Personal Loan Calculator
Calculate Personal loan EMI and total interest.
Input Values
₹
%
Years
Results
Enter values to see results.
⚠️ Results are indicative only. Consult a qualified professional before making any decisions.
What is this Calculator?
The Personal Loan Calculator helps you estimate your monthly instalment, total interest, and total repayment for a personal loan. Personal loans are unsecured loans — no collateral required — making them quick to get but carrying higher interest rates.
How to Use
1
Enter Loan Amount: Enter the personal loan amount you need.
2
Enter Interest Rate: Enter the annual interest rate offered by the lender.
3
Enter Tenure: Enter the repayment period in years.
4
View Results: See Monthly EMI, Total Interest, and Total Payable.
Frequently Asked Questions
A personal loan is an unsecured loan that can be used for any purpose — medical emergency, travel, wedding, home renovation, etc. No collateral is required, but interest rates are higher than secured loans.
Personal loan interest rates in India range from 10% to 24% p.a. depending on your credit score, income, and lender. Digital lenders and NBFCs may charge higher rates.
Personal loans are typically available for 1–5 years. Some lenders offer up to 7 years for high-value loans.
Most banks require a CIBIL score of 700+ for personal loan approval. A higher score (750+) gets you better interest rates.
Many lenders charge a prepayment or foreclosure penalty of 2–5% of the outstanding loan if you repay before the tenure ends. Some digital lenders offer zero prepayment charges.
Personal loan interest is tax deductible only if used for specific purposes — like home renovation (Section 24) or business investment. Interest on personal use is not tax deductible.